Louisiana Film Tax Credits Help Produce Record 2008 Growth
The combination of aggressive film tax credits, growing film infrastructure and unique cultural backdrop continue to fuel growth of the film and production industry in Louisiana as 2008 proved to be another record year. More than 80 major film and television projects made their home in Louisiana during 2008! The previous record for productions had been 56 set in 2007.
These numbers continue to prove that Louisiana is one of the premier filming locations in all of North America. Louisiana began its film tax credit program in 2002 with the intention of luring companies to produce their film and television projects in Louisiana. This act, called the Investor Tax Credit – provides a 25% tax credit on qualified Louisiana based production costs over $300,000. The state’s program also created a tax incentive to hire local workers for productions – the Labor Tax Credit – which rewards out of state production companies for hiring and using local workers as much as possible.
The state film office reports that in 2008 alone more than $32 million in incentives were granted. This brings the totals to more than $443 million dating back to the programs origin in 2002. The total impact from film productions in Louisiana in that time is estimated to be in excess of $2 billion, including over $200 million in payroll alone.
Big-Name Movie and TV Productions Completed in 2008
The film and television productions being shot in Louisiana include many notables including:
• “The Open Road” starring Justin Timberlake and Jeff Bridges
• “Beyond a Reasonable Doubt” with Michael Douglas and Jesse Metcalfe
• “My Own Love Song” with Renee Zellweger and Forest Whitaker.
• “Welcome to the Rileys” with James Gandolfini and Kristen Stewart
• “The Bad Lieutenant” with Nicholas Cage and
• “I Love You Phillip Morris” with Jim Carrey and Ewan McGregor.
There are several notable projects on slate for 2009 including the HBO original series “Treme” which will be shot in one of New Orleans historic neighborhoods and will look at the city’s music scene. The state film office is also working to attract advertising production, digital video gaming projects and music and sound recording projects. Louisiana now has six studios and soundstages in New Orleans, Baton Rouge and Shreveport, with at least one more on the way.
Production Company Support from FBT Film
FBT Film and Entertainment provides a full range of services for film producers looking to maximize their “Louisiana spend” on qualifying productions made in state. FBT Film has offices in New Orleans and Los Angeles as well as unique partnerships with Raleigh Films and Media Services. These partnerships allow FBT to offer film tax credits, financing, payroll and even post production. Call 504-584-5888 or contact us for more information.